Leo Pharma reports record turnover in 2006

Leo Pharma has announced its financial results for the 2006 fiscal year, with the company reporting record revenues for the 12-month period.

During the year, the firm generated revenues of DKK 5,176 million (472.6 million pounds), an increase of DKK 320 million on turnover for 2005. Net income after tax rose 24 per cent on last year’s figures to DKK 2,431 million.

The company reports that a ten per cent rise in healthcare products drove this growth, while the firm saw a 62 per cent drop in revenues from its non-core businesses as a result of divestments in this segment.

Ernst Lunding, president and chief executive officer of the company, said: “2006 was a very satisfactory year for Leo Pharma.

“Our [research and development] pipeline is very strong and Leo Pharma is facing important registration applications and product launches in the near future.”

He added that 2006 had seen the launch of psoriasis treatment Talconex through its partners Warner Chilcott, while the firm also saw strong growth in sales of Innohep and other areas.

In January 2007, Leo Pharma announced the sale of Malvitona to Recip AB as part of its strategic plan to focus on its core business activities. The financial details of this divestment were not made public.